"Demon stock" Rhine biology: the vice chairman has cashed out 200 million yuan

"We don't do any research on this kind of crazy rising stock that is divorced from the fundamentals," said Lane bio (002166 SZ), a strange "demon stock" in the near future, and an analyst surnamed Zhang in the pharmaceutical industry of China Merchants Securities, told the investor daily In fact, a number of securities researchers have expressed similar views in an interview with the investor newspaper Although Rhine bio has been crazy in the secondary market since last year, almost no organization has made analysis report for Rhine bio in the past year However, this did not prevent the capital of the stock speculation Although the recent market adjustment, the stock still rose against the market In the 13 trading days from May 21 to June 11 this year, Rhine bio's share price rose from 13 yuan to 27 yuan, Behind the big rise, in addition to the hype fund, Yao Xinde, the current Vice Chairman of the company, also made a lot of money by reducing his holding at a high position According to statistics from the investor daily, Yao Xinde has reduced about 6.12 million shares in seven times since November last year, reaching an average price of 45.76 yuan when the reduction was at its highest, with a total cash out of 197 million yuan At the same time, Yang Xiaotao, another former executive of the company who has resigned, also took advantage of the current situation to cash out about 150 million yuan "Yang Xiaotao's cash arbitrage is to set up a new portal and set up his own enterprise," a Securities researcher told the investor newspaper An assistant of the company's board secretary office explained that "Yao Xinde's share reduction is due to the fact that his shares have passed the period of lifting the ban, which is a purely personal act" Vice chairman cashed in nearly 200 million Founded in 2000, Rhine biology is an export-oriented enterprise specializing in natural plant extraction in Guilin, Guangxi It landed on the small and medium-sized board in September 2007, when the net amount of raised funds was 150 million yuan, but only 63.16 million shares were on the circulation board Although the performance was flat, the company's institutions and hot money speculation continued after listing, known as "demon shares" and "small and medium-sized board speculation samples" As the only listed company in the natural plant extraction industry, due to its ability to provide raw materials for H1N1 vaccine, shikimic acid, an octagonal extract, was in vogue in the first half of 2009 With the concept of H1N1, the stock set off a round of speculation market From the end of April to the end of July last year, Rhine had experienced five consecutive trading stops After that, despite the high consolidation of the stock price, it still set a record of 50.5 yuan at the beginning of November last year It is worth noting that the stock price soars when there is executive underweight Yao Xinde, vice chairman of the company, reduced his holding in November last year According to the credit information of Shenzhen Stock Exchange, Yao Xinde's first reduction was on November 11, 2009 On that day, Yao Xinde's reduction was 2.4 million shares, with an average transaction price of 42.1 yuan and cash out of 101 million yuan a day After that day, Rhine bio's share price continued to rise after a slight correction Yao Xinde reduced 475400 shares and 123600 shares on November 17 and 19, respectively, with higher average transaction prices of 45.76 yuan and 45.33 yuan, respectively The two-day cash out exceeded 27 million yuan Since the end of last year, Rhine bio's share price has been significantly reduced, during which there has been no reduction of senior executives However, after the company changed 10 shares to 0.3 yuan on May 13 this year, the share price rose again, and then launched a round of fierce market reversal From May 21 to June 11, in the 13 trading days, the share price rose from 13 yuan to 27 yuan Although the market was adjusted later, the stock still bucked the market Up until early July Yao Xinde once again accurately seized the opportunity to reduce his shares on June 1, 3 and 25, respectively On June 25, the company reduced 1.7 million shares, traded at an average price of 22.33 yuan, and cashed out 37.96 million yuan in one day So far, Yao Xinde has reduced about 6.12 million shares in seven times, with a total cash out of 197 million yuan In fact, Yao Xinde is not the only one who took advantage of the soaring stock price As early as in the last round of gains of Rhine biology, Yang Xiaotao, a former executive of the company and the third largest shareholder at that time, also took the opportunity to reduce his holding As Yang Mu is not among the top executives, the details of his reduction need not be announced, and it is difficult to find out However, on June 19, 2009, the company announced that Yang Xiaotao, a former executive and the third largest shareholder of the company, reduced his holding of 3.23 million shares on June 18, 2009, with a transaction amount of 100 million yuan In addition to the previous 46.27 million yuan of cash arbitrage on June 3, Yang Xiaotao has now accumulated nearly 150 million yuan of cash It is not hard to see that Yang's reduction also occurred in the process of soaring stock prices In fact, Yang Xiaotao reduced 1182000 shares in the first quarter of last year, 4691600 shares in the second quarter and 1654200 shares in the third quarter Although he was still the second largest circulating shareholder in the third quarter, he had only 2491000 shares left By the first quarter of this year, Yang Xiaotao was no longer among the top ten shareholders with unlimited sales conditions In the company's public information, Yang Xiaotao, in addition to the identity of shareholders, appears somewhat mysterious Few people know that this person was also a former executive of the company He has been a director and deputy general manager of Rheinland bio since December 2004 and resigned as an executive in January 2008, but he is still the third largest shareholder of the company He is also a former official, who has successively served as the Deputy township head of Cui hometown government, Gao Shang township government, township head and deputy director of Planning Bureau of Xing'an County, Guilin According to the prospectus of Rhine bio in that year, on July 28, 2003, the board of shareholders of Rhine bio products decided to increase the shareholder Yang Xiaotao, and applied for an increase of 9 million yuan in the registered capital, of which Yang Xiaotao contributed 5.25 million yuan in currency, accounting for 25% of the registered capital of Rhine bio, and transferred 3% of the equity to his wife Li AI on August 25, 2004 Joan After the transfer, Yang Xiaotao and Li aiqiong accounted for 22% and 3% of the registered capital of Rhine biological products company respectively By the end of 2008, Li aiqiong was the fifth largest shareholder of Rhine bio, and later dropped out of the top ten outstanding shareholders That is to say, six years ago, the equity investment of 5.25 million yuan earned Yang Xiaotao hundreds of millions of income Based on the current 150 million yuan of cash arbitrage by Yang Xiaotao and his wife, the equity investment income of this part has reached 29 times As for the reason why Yang Xiaotao and his wife cashed in, a researcher from a securities firm told the investor newspaper that he had always wanted to run his own company This resignation and cash out was to set up a new door and accumulate considerable capital for re entrepreneurship What is the main business performance of a private listed company that is not popular with securities companies but is popular in the capital market and allows senior executives to cash out? "The rise of Rhine bio relies on concept hype, because it is the only company whose main business is extracting shikimic acid from star anise in A-share market at present, but people who are familiar with the plant extraction market know that the technical threshold of this industry is not high, there are many enterprises that can produce shikimic acid, and the sales of shikimic acid contributes to the performance of Listed Companies in terms of the profit margin level of the plant extraction industry Not much " An investment institution researcher who had previously analyzed the stock told the investor A strong contrast is that in recent years, more than 30 different business departments have participated in the speculation of Rhine bio's stock price, but its performance has not followed the stock price's sharp rise in recent years, and its operating revenue has been hovering around 120 million yuan in recent years And the company's main business is not very sure, has been in a swing state At present, Rhine bio's main products include grape seed, Siraitia grosvenorii, Rhodiola, blueberry, wolfberry, star anise and other plant extracts Most of the products are used for export Although it has been established for ten years, it has been listed for more than two years, and the company does not have a core product line More often, temporary products will be produced as soon as the epidemic is over, and the focus of products will be changed as soon as the epidemic is over At the beginning of its establishment in 2000, the company's main product was Ginkgo biloba extract, which entered the extraction field of Siraitia grosvenorii in 2002 After the outbreak of avian influenza in 2006, the company took octagonal extract, the main raw material of Tamiflu, as its main product The proportion of octagonal extract increased from 4% in 2005 to 23% in 2006, and its gross profit contribution also increased from 3% to 22% After that, with the control of avian influenza, the proportion of octagonal extract of the company gradually began to decline, to about 9% by the eve of listing in 2007 In 2007, when the company was listed, the contribution of the business to the company's profits was about 11% After the outbreak of H1N1 in April 2009, the company put all product lines into the production of shikimic acid, octagonal extract, and basically did not produce other products Therefore, the company was also called "H1N1 stock" and was fried But this business has not brought much profit to the company After the A-flow, Rhine Bio said that the company had stopped the production of shikimic acid In 2010, the main products include the extract of Siraitia grosvenorii Luo Huayang, Secretary of the company's board of directors, has previously publicly said that the company has been looking for main products to adjust its product structure Based on this, in the report of July 16, 2009, Tianxiang Investment & Consulting consumer goods group maintained the neutral rating of Rhine bio, believing that there is little possibility for Rhine bio to achieve greater growth except for shikimic acid, and the growth of shikimic acid is not enough to support the company's valuation.